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Mobile phone fraud: 'They stole £22,500 using my banking app'

Banks are being caught off guard by the growing threat of mobile phone fraud, says charity the Fraud Advisory Panel.

Source link As technology advances, so does the sophistication of criminals targeting unsuspecting individuals. Mobile phone fraud is one such example of cybercrime in which people are tricked into unwittingly giving away sensitive information.

Recently, a victim of mobile phone fraud contacted the BBC in order to share their story. According to the victim, criminals had succeeded in stealing £22,500 from her bank account, exploiting her banking app.

The victim had initially received a text message from what appeared to be her bank asking her to update her security information. Unsuspecting, she clicked on the text message and was quickly taken to a cloned website. After entering her personal information and updating her security details, the victim discovered that her bank account had been emptied.

Experts have noted that these types of attacks – known as phishing scams – have become increasingly commonplace in recent years. Criminals have learned to exploit the trust people have in the visual design of their bank’s websites, often resulting in very successful attacks.

The victim of this particular phishing scam was soon contacted by a carrier, who provided her with a recording of the whole transaction. Apparently, one of the criminals had called the bank from a different phone number, posing as the victim and made a successful withdrawal from her bank account.

Unfortunately, cases like these are becoming increasingly common as criminals continue to exploit the trust people have in their banking provider’s websites. To protect yourselves, always double-check that the website you’re visiting is legitimate before entering any sensitive information. Additionally, it’s a good idea to have additional security measures in place, such as two-factor authentication. Finally, be sure to contact your bank right away if you suspect your personal information has been compromised.

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